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MO HB273
Bill
Status
1/7/2015
Primary Sponsor
Dave Hinson
Click for details
AI Summary
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Requires tax levy rates for bond payments to be set at the rate needed to meet the bond obligation and adjusted solely to meet that obligation, applying to counties, cities, villages, school districts, and special districts
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Removes language allowing local governments to apply "other means" beyond tax levies to pay maturing bonds
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Exempts drainage and levee districts from the new levy rate restriction
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Drainage and levee district levy rates for bond payments must instead be set by their boards of supervisors in accordance with chapters 242, 245, and 246 of Missouri statutes
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Amends section 108.280, RSMo, which governs bond payment procedures for local governmental entities
Legislative Description
Specifies that the levy rate for certain bond issues be set at the rate needed to meet the bond issue obligation and may be adjusted solely to meet such obligation
Last Action
Action Postponed (H)
5/6/2015